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Report Media Releases Pumps Market Estimated to Represent Incremental Opportunity of US$ 15.02 Bn Between 2016 and 2024; Centrifugal Pumps Segment to Account for 90.9% Value Share by 2016 End In a new report titled “Pumps Market: Global Industry Analysis and Forecast, 2016 – 2024”, Persistence Market Research analyzes the performance of the global pumps market over an
M a r k e t
eight-year period and provides insights on the key factors and trends likely to influence the market during the forecast period (2016 – 2024). The global pumps market is projected to register a CAGR of 4.6% in terms of revenue and 4.2% in terms of sales volume between 2016 and 2024. Increasing investment in infrastructure, sanitation, and water and wastewater management in the Middle East and Asian countries such as GCC countries, India, and China is likely to boost the sales revenue of the global pumps market over the forecast period. Further, increasing demand for electricity across the world is strengthening the global power sector; with pumps being an integral part of each power plant, development in the power sector is expected to contribute
P e r s i s t e n c e
significantly to the growth of the global pumps market through 2024. However, low-priced offerings by Chinese pump manufacturers and low replacement rates due to durable life and energy efficient centrifugal pumps are factors that are likely to restrict the growth of the global pumps market over the forecast period. Rising demand for energy efficient centrifugal pumps and the adoption of micro disc pumping and variable frequency drive technology for centrifugal pumps are some of the key trends observed in the global pumps market. Browse Complete Report @ http://www.persistencemarketresearch.com/marketresearch/pumps-market.asp
On the basis of product type, the Centrifugal Pumps market is segmented into Single-stage Pump, Multi-stage Pump, Axial & Mixed Flow Pump, Submersible Pump, and Sealless & Circular Pump. On the basis of product type, the Positive Displacement Pumps market is segmented into Reciprocating Pump and Rotary Pump. On capacity basis (HP), each pump segment type is
Global Pumps Market 2016-2024